New-home purchases fell in the Midwest, South and West last month and increased in the Northeast. Sales of new homes can be volatile on a monthly basis.

Low mortgage rates and an improving job market boosted sales for much of 2016. But borrowing has become pricier since the November presidential election. Average 30-year mortgage rates have climbed above 4 percent. While that remains low on a historical basis, the higher average has squeezed affordability and potentially limited sales.